USELESS surges 15% as buyers return – But 2 risks could interrupt recovery

Useless Coin [USELESS] rallied 15% following the announcement of its LONG platform launch, boosting overall trading volume in the memecoin space. The announcement highlighted the token's launch on LONG, drawing attention to its connection with USDG. During the recovery, its trading volume rose 13.41% to $10.65 million, signifying a moderate increase in market participation. The growing speculative activity raised questions about whether buyers could sustain the recovery beyond the initial excitement. Open Interest jumps as traders increase exposure Beyond the spot activity, trading in derivatives was also strengthened, with traders increasing their exposure to USELESS. Notably, the memecoin’s Open Interest rose 18.08% to $71.46 million, reflecting growing outstanding futures positions, according to data from CoinGlass. The increase accompanied USELESS's double-digit recovery, highlighting renewed interest in leveraged trading.

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